Friday, May 7, 2010

Bob Griefeld, Wall Street's latest moron

Bob "boob" Griefeld, explains to CNBC viewers that a 60 second timeout on Proctor and Gamble stock necessitates a $60 billion haircut in the value of PG stock, and he does it with a straight face. He m akes Lloyd Blankfein look like a saint!

Listen to this bumbling nonsense starting at 2:32 in the clip below.

"When you have the listing market, the primary market, deciding not to support the stock, not to trade it, that sends a signal. a signal to a very nervous market, and that signal is a negative signal, and that signal is there is something wrong with the stock. So instead of standing behind the stock, they basically walked away from it."

Oh my. You can't trade a stock for less than a minute, and then, this 60 seconds justifies a $60 billion haircut? On Proctor and Gamble? And this moron is the CEO of NASDAQ? Who has his head, jammed firmly up his ass?

And then MCC, who normally I would get behind, sputters and spits that the NYSE was culpable!

I suppose MCC was trying to make a point, but maybe she should stick to what she does best!